Healthcare Is The Biggest Social Issue Of The 21st Century

Please pay attention: The most significant problem facing retirees is not the cost of the insurance, it is the cost of medical reimbursements from Medicare. Our Government has to reduce spending somewhere! Seeing a doctor for a medical issue is covered by Medicare, but what is happening is the amount paid to the medical care provider is lowered and keeps getting lower; less and less.

What does that mean?

It means that YOU’LL be responsible for what Medicare does NOT pay! This is just the beginning; it could become worse and worse. The out of pocket liability for those on a fixed income to cover medical costs will determine the quality of life and the level of their retirement. This financial exposure is the real danger for those retired and those planning retirement.

This is a big concern for ALL of us who have reached age 65 and for those of you who haven’t, BETTER GET BUSY! I’m not sure what to get busy with because you must start early and often, and you must have SOMEWHERE to start!

Start what? SQUIRRELING AWAY AS MUCH MONEY AS YOU CAN!

Consider Health Savings Accounts (HSA), make sure you have a GOOD Medicare Supplement Plan (At least G). Those of you who are in your 40’s and 50’s…
SOCIAL SECURITY, AND MAYBE EVEN MEDICARE may very well not BE there for you. So, you’d better consider annuities as they are the only financial product that can guarantee an income every month that will be guaranteed to arrive no matter how long you live! What do you think a pension is? Start a personal pension using an annuity, add to the annuity every opportunity you have.

In my own family, there are some that will drop their health insurance as it is just too expensive. What is going to happen when they get sick? I was told when I was trying to get health insurance for my wife, that the premiums are going to increase every year. Deductibles will also increase and be so high (for me to afford the insurance) that I’ll never reach the deductible unless there is a MAJOR catastrophic illness!

Like most of you, my health insurance is more expensive than any mortgage payment I’ve ever had, and it’s only going to get worse.

Ok. Our Government is BROKE; they just don’t know it yet. If our country’s debt were a debt to a loan shark, we’d all have our legs broken by now! That’s why there is so much discussion in Washington about reforming (Translation: eliminating or severely reducing) “entitlements”-Social Security and Medicare.
What’s going to happen when employers begin to eliminate healthcare insurance at work the way they’ve reduced Pensions?

Many people will try to go on some government assistance, BUT THE GOVERNMENT IS IN DEFICITE FUNDING! It is an mystery inside an enigma = a problem. We can’t afford to insure ourselves and our families,

The Healthcare crisis (and Medicare, Social Security) just might be the cause of our House of Cards to collapse and make those in retirement and planning for retirement in great jeopardy.

Folks, this isn’t a commercial; I AM blogging this, but this is something that I’ve been very concerned about for several years and it all seems to be coming to fruition.

Hope I’m wrong, but I’m not sure that any of this is currently arguable.

Rick has helped thousands of people find the safest approach to a stable and satisfactory retirement. Rick is a Certified Retirement Financial Advisor (CRFA), has been advising retirees for over two decades in Safe Money and Lifetime Income strategies. Web Site: safeharborfinancial.retirevillage.com